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Michael Kors closing up to 125 stores

Michael Kors, a high-end accessory and clothing company, announced Wednesday that it plans to close up to 125 stores over the next two years amid plummeting sales.

The company did not release a list of the stores that would close. In Palm Beach County, Michael Kors has locations in Palm Beach, Palm Beach Gardens and Boca Raton.

FILE – In this Nov. 27, 2015 file photo, a doorman holds the door for a shopper at a Michael Kors store at the Cincinnati Premium Outlets in Monroe, Ohio. For those willing to wait, theres a best time of year to buy all kinds of things, from TVs to bathing suits. (AP Photo/John Minchillo, File)

According to an earnings report released Wednesday, sales at the Michael Kor’s stores tumbled during the last quarter of the fiscal year. Total revenue fell by 11.2 percent to $1.06 billion from $1.20 billion in the fourth quarter of fiscal 2016, the report said.

As of April 1, Michael Kors operated 827 retail stores, including concessions, compared to 668 retail stores, including concessions, at the end of the same prior-year period. The Company had 133 additional retail stores, including concessions, operated through licensing partners. Including licensed locations, there were 960 Michael Kors stores worldwide at the end of the fourth quarter of fiscal 2017.

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About the Authors

Jennifer Sorentrue covers tourism and retail as a business reporter for The Palm Beach Post. She previously covered Palm Beach County government.

Alexandra Clough has been a business writer for the Palm Beach Post since 1989. She covers real estate, law and the economy. Previously, she worked as a real estate and business writer in Miami, and in the 1980s, covered Wall Street and corporate finance for a New York-based financial magazine. Alexandra is a graduate of American University in Washington, D.C.